Common use of Protection Against Lien Claims Clause in Contracts

Protection Against Lien Claims. Borrower shall promptly pay or otherwise discharge any claims and liens for labor done and materials and services furnished to the Property in connection with the Work. Borrower shall have the right to contest in good faith any claim or lien, provided that it does so diligently and without delay in completing the Work.

Protection Against Lien Claims. Borrower shall promptly pay or otherwise discharge any all claims and liens for labor done and materials and services furnished to the Property in connection with the Workconstruction of the Improvements. Borrower shall have the right to contest in good faith any claim or lien, provided that it does so diligently and without prejudice to Bank or delay in completing the WorkImprovements. Upon Bank’s request, Borrower shall promptly provide a bond, cash deposit or other security which Bank in the exercise of its reasonable judgment determines to be satisfactory.

Protection Against Lien Claims. Borrower shall promptly pay or otherwise discharge any all claims and liens for labor done and materials and services furnished to the Property in connection with the Workconstruction of the Improvements. Borrower shall have the right to contest in good faith any claim or lien, provided that it does so diligently and without prejudice to Bank or delay in completing the WorkImprovements. Upon Bank's request, Borrower shall promptly provide a bond, cash deposit or other security which Bank in the exercise of its reasonable judgment determines to be satisfactory.

Protection Against Lien Claims. Borrower shall promptly pay or otherwise discharge any all claims and liens for labor done and materials and services furnished to the Property in connection with the Work. Borrower shall have the Property, subject to Borrower's right to contest in good faith any claim or lien, provided that it does so diligently and without delay establishes appropriate reserves in completing the Workaccordance with generally accepted accounting principles. Upon Bank's request for any claim or lien in excess of Five Hundred Thousand Dollars ($500,000), Borrower shall promptly provide a bond, cash deposit or other security satisfactory to Bank.

Protection Against Lien Claims. Borrower shall promptly pay or otherwise discharge any all claims and liens for labor done and materials and services furnished to the Property in connection with the Workconstruction of the Subdivision or any Improvements. Borrower shall have the right to contest in good faith any claim or lien, provided that it does so diligently and without prejudice to Bank or delay in completing the WorkImprovements or the Subdivision. Upon Bank's request, Borrower shall promptly provide a bond, cash deposit or other security which Bank in the exercise of its reasonable judgment determines to be satisfactory.